RECONCILIATION & AUDIT SUPPORT

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RECONCILIATION & AUDIT SUPPORT

Challenge:

Federal Financial Management systems are being implemented without concern for meeting auditability requirements, which are required.

Solution:

Starry Associates provided Federal financial personnel to take the role of audit support. Starry Associates staff assured sufficient audit trail and reconciliation capability was implemented during the creation of the solution. In support of reconciliation and audits efforts, Starry Associates:

	Validated functionality of user logon and function tracking
	Researched the data fields which lacked sufficient traceability within the system
	Validated the audit trail
	Assured that all financial requirements were met
	Provided reconcilable reports for audit requests
	Developed a strategy for application integrity which validated that all processes ran successfully with the expected outcomes
	Developed a strategy for system (data) integrity which validated that all interface files processed successfully with sufficient tracking of errors at all control points
	Developed a strategy for financial integrity that reconciled all records in the subledgers, and from the subledgers to the General Ledger
	Provided operations support to assure the application, system, and financial integrity was maintained each day

Benefit:

Due to the above efforts, the Federal financial management system produced processes and reports that successfully passed the audit and reconciliation requirements of a SAS70 and financial audit. In addition, the legacy systems received a clean audit opinion. The Starry Associates staff is currently working with the implementation of a new financial management system and is working with the client to achieve the same goal.